Electro Company makes battery powered ebikes. They cost $1,600 to make which consists of $400 labor and $1,200 parts. They are sold with a one-year unilimited warranty on parts only (customer pays labor) and this year Electro sold 6,600 bikes. Experience shows that 10% of bikes make a warranty claim and the average claim is $71. At year end 362 bikes from this year's sales have already made a claim Required 1 Assume there were no other transactions in the year, what is the amount credited on Estimated Llability for Product Warfanties when doing the year end AJE? \$ Required 2. Assume there were no other transactions in the year, what is the amount of Warranty expense reported in the income statement for the year? $ Required 3. Assume there were no other tansactions in the year, what is the amount of claims for warranties served during the year